Investment property in Lenah Valley has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.17%
Across a shorter period, Lenah Valley, 7008 has seen a median price increase of 1.04% over the last quarter.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.57% offered to property buyers. Sellers in Lenah Valley itself are offering an average vendor discount of -6.83% to real estate investors.
Advertised rents are around the $390 mark per week – giving a return of 4.31% based on the median price in Suburb
If you compare the increase in value of investment property in Lenah Valley, 7008 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 17.41%.
Lenah Valley,7008 was ranked 610 in Australia by increase in median property value over the quarter.
Lenah Valley7008 is located in TAS which offers an average discount of -5.10% to property investors. Lenah Valley itself is showing figures that indicate -4.83% is the average achievable by property buyers investing in the suburb.
In the last year 36 properties changed hands in Lenah Valley, which puts it as the 14th most active market in TAS when comparing the number of sales per suburb.
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary
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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.